Factors of Production
Rice is an example of which factor of production?
natural resource
Unlike in a communist (command) economy, competition between businesses in a free enterprise (market) economy leads to-
higher quality and lower prices
A country with a constitution that gives the government only certain powers has a(n)____
(Limited or unlimited)
limited government
The key feature to a democracy is citizens’ right to vote. How many rule in a democracy? (one, few, or many)
many
The cashier in a grocery store is an example of which factor of production?
labor resource
In contrast to a free market system, a socialist economic system would have which of the following characteristics?
Mostly privately-owned companies
Some privately-owned companies
Some privately-owned companies
Which of the following does NOT describe the United States’ form of government? (limited or unlimited)
unlimited
In China, the nine member oligarchy makes most of the decisions and holds most of the power. How many rule in China? (one, few, or many)
few
Tools, factories, and investment money are examples of which type of resource?
Capital resources
In a free enterprise (market) economy, the {business owners, government, people} choose(s) what to produce, while in a communist (command) economy, the {business owners, government, people} choose(s) what to produce.
business owners, government
Which of the following are examples of unlimited government. Select TWO correct answers.
constitutional monarchy, republic, theocracy, parliamentary democracy, or oligarchy
theocracy and oligarchy
Which of the following forms of government is an example of rule by one?
oligarchy, absolute monarchy, theocracy, or presidential democracy
absolute monarchy
By creating new products and services, which type of resource boosts employment, which results in economic development?
entrepreneurs
In the United States consumers may choose which brand of shoes to purchase because the U.S. has a {communist (command), free enterprise (market),socialist (mixed)} economic system.
free enterprise (market)
In which system of government are citizens’ rights most easily taken away? (These rulers usually gain control through military control.)
theocracy, oligarchy, dictatorship, or presidential democracy
dictatorship
Which of the following forms of government gives citizens the least amount of influence over laws?
constitutional monarchy, dictatorship, representative democracy, or oligarchy
dictatorship
Which one of the following choices BEST describes why countries with a communist, or command, economy often lack (do not have) capital resources?
The government decides how many people to hire.
Private investors (business owners) are not allowed by the government.
The government controls farmland.
There is an abundance of natural resources.
Private investors (business owners) are not allowed by the government.
Which characteristics are associated with a traditional economy?
trade relies heavily on barter, consumers choose where to shop, higher quality goods and lower prices, or produce only what you need
trade relies heavily on barter
Produce only what you need
What is one reason for limiting the powers of government?
Protecting the citizens’ right to vote
Preventing any single person from becoming too powerful
Canada has a {presidential democracy, theocracy, parliamentary democracy, dictatorship} , meaning citizens can vote for representatives that elect the Prime Minister.
parliamentary democracy